socialmedia
A potential U.S. ban on TikTok may significantly impact Oracle’s revenue, as the software giant acknowledged in its annual report released on Monday. This development follows President Joe Biden’s April bill requiring ByteDance, TikTok’s Chinese owner, to sell the platform within nine months to avoid a ban in the U.S. TikTok’s relationship with Oracle Oracle provides critical cloud infrastructure for TikTok, which boasts over 150 million U.S. users. The company’s reliance on Oracle’s services means that any disruption could adversely affect Oracle’s financial performance. The company stated th...
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Social media company Meta Platforms (NASDAQ: META) is arguably one of the more divisive stocks of the Magnificent 7 bunch, and it’s had one of the more nuanced years so far as well. Meta and Apple to join forces?Meta, along with Apple, has had some criticism in 2024 that they are lagging behind some of the other Magnificent 7 stocks in the AI race. That may be changing even now. Yesterday, the Wall Street Journal wrote that Meta Platforms are reportedly in discussions with Apple Inc to integrate Meta’s generative AI model into Apple Intelligence. Although neither Meta nor Apple have officially...
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Social Media platform Instagram continues to recommend adult-oriented content to underage users, a report by the Wall Street Journal has found. The report has exposed cracks in Meta Platforms’ earlier claims to provide a secure and age-appropriate digital environment for teenagers. The publication had tied up with an academic researcher to undertake a seven-month-long test to investigate the issue. The process involved creating new accounts for 13-year-old users. In its investigation, WSJ found that within twenty minutes of teenagers consuming content on Reels, their feeds were inundated with ...
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Shares of Trump Media & Technology Group – Donald Trump’s namesake social media company – tumbled Tuesday as the stock continued a long slide that began following the former president’s guilty verdict on all 34 felony counts in his criminal hush money trial. Trump Media’s stock declineTrump Media, which trades under the vanity ticker “DJT,” has tanked 39% since May 30 when a New York jury found Trump guilty of falsifying business records. On Tuesday, Trump Media closed down 10% to $31.31. The sell-off came as Trump Media warned investors that it could not force its majority shareholder to favo...
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Dating apps are in trouble. Bumble (NASDAQ: BMBL) stock price has collapsed by over 22% in 2024 and by over 86% from its all-time high. Similarly, Match Group (NASDAQ: MTCH) share price is down by almost 20% this year and by over 80% from its all-time high. The two companies have shed over $18 billion and $40 billion in market cap. Match Group stock vs Bumble User growth is slowingBumble and Match Group, the biggest players in the online dating industry, are facing unprecedented challenges as their growth slows. The most recent results showed that Bumble’s revenue rose by just 10% in the first...
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Trump Media & Technology (NASDAQ: DJT) stock price has been in the spotlight in the past few weeks as investors watched its financial results, the recent Trump trial, and presidential polls. It was trading at $45.8 on Friday, up by over 101% from its lowest point in April. Prepare for dilutionsDonald Trump’s social media company is not doing well as the number of users in its ecosystem slows and losses mount. The most recent results showed that its adjusted EBITDA came in at minus $12.1 million as its net income stood at minus $327 million in the first quarter. Most of these losses were relate...
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Trump Media & Technology (NASDAQ: DJT) stock price has staged a strong recovery recently. It has soared to $54.40, 142% above its lowest point in April. That surge has pushed its market cap to over $7.45 billion, pushing Trump’s net worth to over $8 billion. Trump Medis is highly overvaluedTrump Media & Technology Group is one of the most severely overvalued companies in Wall Street. Its market cap is slightly smaller than Reddit, a social media platform that is popular globally with over 71 million users. X, formerly known as Twitter, is estimated to be worth about $12.5 billion by Fidelity, ...
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Turkey’s competition board has levied a hefty fine of 1.2 billion lira ($37.20 million) against Meta Platforms on Wednesday, following the conclusion of two separate investigations into the tech giant’s data-sharing activities involving its social media platforms including Facebook, Instagram, WhatsApp, and Threads. Investigations into Threads and Instagram integrationThe investigations, which began in December, focused on potential violations of competition law stemming from the integration of Threads and Instagram. In response to these concerns, the competition board in March implemented int...
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Reddit Inc (NYSE: RDDT) is already up close to 40% versus its year-to-date low but analysts at Citi are convinced that it’s not out of juice just yet. Reddit stock could climb another 20%The investment firm reiterated its “buy” rating on the social news aggregator this morning and raised its price target to $65 which suggests another 20% upside from here. Citi remains bullish on Reddit stock after the quarterly earnings report the social media company posted last night. Analysts at the financial services behemoth told clients today: As Reddit builds out its ad stack, we look for Search (1B+ mo...
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Trump Media & Technology Group Corp (NASDAQ: DJT) opened in the red this morning after the Securities & Exchange Commission charged its auditor with “massive fraud”. BF Borgers barred from practicing as an auditorThe malpractice of Benjamin Borgers and his firm BF Borgers CPA affected over 1,500 filings in total for which the federal regulator permanently barred the auditor today from working as an accountant. BF Borgers and its owner will also pay civil penalties worth $14 million, the SEC confirmed in a statement on Friday. In April, Benjamin Borgers’ firm was blocked from accepting new clie...
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